Unifirst Corporation Announces Quarterly Dividend of $0.04 (UNF)
Unifirst Corporation (NYSE:UNF) announced a quarterly dividend on Tuesday, October 24th, RTT News reports. Shareholders of record on Friday, December 8th will be given a dividend of 0.0375 per share by the textile maker on Friday, January 5th. This represents a $0.15 annualized dividend and a yield of 0.10%.
Unifirst Corporation has raised its dividend by an average of 10.1% per year over the last three years. Unifirst Corporation has a payout ratio of 2.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Unifirst Corporation to earn $5.68 per share next year, which means the company should continue to be able to cover its $0.15 annual dividend with an expected future payout ratio of 2.6%.
Shares of Unifirst Corporation (UNF) opened at 156.05 on Tuesday. Unifirst Corporation has a 1-year low of $118.70 and a 1-year high of $160.62. The stock has a market capitalization of $3.16 billion, a PE ratio of 28.75 and a beta of 0.70. The firm has a 50-day moving average of $150.25 and a 200 day moving average of $142.32.
Unifirst Corporation (NYSE:UNF) last released its quarterly earnings results on Wednesday, October 18th. The textile maker reported $1.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.20. The company had revenue of $403.60 million for the quarter, compared to the consensus estimate of $392.15 million. Unifirst Corporation had a net margin of 4.40% and a return on equity of 7.53%. Unifirst Corporation’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.27 earnings per share. Analysts predict that Unifirst Corporation will post $5.31 EPS for the current year.
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A number of research firms recently issued reports on UNF. Zacks Investment Research raised shares of Unifirst Corporation from a “hold” rating to a “buy” rating and set a $162.00 price target on the stock in a research note on Wednesday, September 6th. Northcoast Research reaffirmed a “neutral” rating on shares of Unifirst Corporation in a research note on Thursday, October 19th. Robert W. Baird raised shares of Unifirst Corporation from a “neutral” rating to an “outperform” rating and upped their price target for the company from $145.00 to $163.00 in a research note on Thursday, June 29th. Finally, BidaskClub downgraded shares of Unifirst Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $165.00.
Unifirst Corporation Company Profile
UniFirst Corporation is a provider of workplace uniforms and protective work wear clothing in the United States. The Company designs, manufactures, personalizes, rents, cleans, delivers, and sells a range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, lab coats, smocks, aprons and specialized protective wear, such as flame resistant and high visibility garments.
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